Tag: account balances
Study suggests differences may be disappearing. A 2020 Bank of America study examined 401(k) participation rates, contribution rates, investment allocations, balances, and leakages for the 4.6 million participants in the company’s record-keeping systems. In addition to breaking the data out by gender, the report also includes results by generation. The authors conclude that participation rates…
Auto-enrollment without auto-escalation of default contribution rate is part of the problem. One of my favorite publications just came out: “How America Saves.” This annual report from Vanguard summarizes the statistics for the defined contribution plans that the company administers. Vanguard tends to administer larger plans, so the plans are better designed than average and…